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20120930
20121008
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. early last year mr. quinn floated the idea that the federal government could bail out, that is the federal government, you, could bail out his state's pension program if illinois' finances took a turn for the worse. critics are pouncing saying states cannot give away big benefit packages and then expect the federal taxpayer to come to the rescue. "the chicago tribune" says the stampede of other states with pension red ink could lead to a federal taxpayer bill of over $2 trillion. that's with a t, and let me tell you, folks, that's just one estimate. others put it between 1 trillion and 25 trillion that we could potentially get to. lou dobbs is host of "lou dobbs tonight" on the fox business network, he's also a syndicated radio host. so governor quinn in illinois can't figure out how to get himself out of these pensions that they've overpromised and feel like they're going to have to underdeliver on, and he's considering making the rest of us pay for them? [laughter] >> he's considering, he's hoping, he's begging, he's wishing. the fact of the matter is governor quinn
the message in this speech was the federal government doesn't like you because you are black. and then you've seen a lot of folks in the mainstream media come out and say that's not a news story, this is old tape, you know, at least portions of it were run -- tucker says not the relevant portions. so there's a real question about what, if any, impact this has on this presidential race four-and-a-half weeks out, almost five weeks out from election day. your thoughts? >> well, megyn, think about it this way for barack obama at that time when he was, as mike emanuel said, a long shot, the thing he was trying to do was consolidate the black vote bekind him. he went down there to establish himself as the black candidate in the race because there was no way he was going to beat hillary clinton or the other candidates like john edwards and others who were ahead of him in line. he needed to consolidate the black vote, and he went down there, and he told an african-american audience what they wanted to hear. he gave them the rhetoric and used the sort of dialect that he thought would go over well w
as compared to romney's own perscriptions that call for smaller less expensive government. for the president what he's going to try to do is say look, maybe things aren't so great but it is partly the fault of george w. bush and the republicans who were in office prior to the democrats taking control in 2009, so we need time to fix it, and by the way, the president will also say that he wants to increase taxes on people like mitt romney to help pay down some of that debt. >> reporter: we just put of that graphic there showing the $16 trillion of debt and there are so many digits it almost doesn't fit on the tv screen across the screen there, as you can see. but haven't americans in some way become number to astronomical numbers? how serious is this in. >> they have become number. is it the new normal this massive spilling of red ink but it raises three problems which i don't think the nation has got even to grips with yet. number one our economy is smaller than our debt. we look like europe, we know what happened there. number two we are spending $9 billion every week just paying interest on
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